The Economy of the United Arab Emirates

The video explores the transformation of the UAE from a poor British colony to a wealthy nation due to oil. It discusses the historical context, the impact of the oil boom, and the role of foreign workers. The UAE's strategy for economic diversification, focusing on tourism and business, is highlighted as a plan to sustain its economy post-oil.

What is the primary factor that transformed the UAE from a desolate nation to a wealthy metropolis?

• Oil

• Technology

• Agriculture

• Tourism

Before discovering oil, what was the main industry in the UAE?

• Textiles

• Mining

• Pearling

• Fishing

Which organization played a significant role in the UAE's decision to increase its oil supply?

• UNESCO

• WTO

• OPEC

• NATO

What was one of the major outcomes of the UAE's oil revenue investment?

• Increased unemployment

• Reduced oil production

• Improved quality of life

• Decreased infrastructure

What percentage of the UAE's population is made up of foreign workers?

• 70%

• 30%

• 50%

• 90%

Why do many foreign workers move to the UAE?

• For higher wages

• For better weather

• For educational opportunities

• For political stability

What is a key focus of the UAE's post-oil economic plan?

• Agriculture

• Mining

• Tourism

• Manufacturing

Which city in the UAE is the most popular tourist destination in the Middle East?

• Sharjah

• Abu Dhabi

• Dubai

• Al Ain

What makes the UAE an attractive place for foreign businesses?

• Limited infrastructure

• High corporate taxes

• Strict regulations

• Tax-free environment

Which country is the UAE's economic model compared to in terms of becoming a business hub?

• Japan

• Germany

• Brazil

• Singapore